CM confirms Sarawak buying 10% equity in LNG train 9

KUCHING:Sarawak Chief Minister Datuk Amar Abang Johari Tun Openg confirmed the state will take up the option for a 10% equity in Petronas’ liquefied natural gas (LNG) train 9 in Bintulu.

He however said the deal has yet to be concluded as negotiations between the state and Petronas is ongoing.

“We are buying it,” the chief minister said today.

Last Monday, PKR Batu Lintang assemblyman See Chee How had requested the state government demand an explanation from Petronas why the sale has yet to be finalised.

See said three years had passed since former chief minister Adenan Satem accepted the offer to buy a 10% stake in the plant that could produce 3.6 million tonnes per annum (MTPA).

He said in the three years, Petronas had concluded a sale of 10% with JXTG Nippon Oil & Energy Corporation and last week signed a similar agreement with Thailand’s PTTGL Investment Ltd.

Petronas’ executive vice president and chief executive officer of upstream Mohd Anuar Taib in his statement on the Thai sale made no mention of Sarawak as a shareholder.

The PKR vice president suggested the chief minister should give Petronas 30 days to conclude the shareholders agreement with Sarawak.

“The state administration, particularly the State Secretary (Morshidi Ghani) who sits in the Board of Directors of Petronas, owes Sarawakians an explanation why it is taking so long for Sarawak to conclude the deal.

“We have been slack in the deal to protect Sarawak’s interests and rghts.

“It appears the momentum of the good efforts by the late Tan Sri Adenan Satem to regain and restore Sarawak’s sovereign rights to territorial boundary, autonomous powers and rights have hit a snag,” See said.

Touching on the sale in the November 2016 Budget sitting of the state legislative assembly, Adenan had said the state government was not only “in active discussion” with Petronas on the details of the shareholders agreement, the state was also seeking for more equity in the MLNG 2 plant. – dayakdaily.com

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